New developments in hydrogen and LNG are at the heart of the conversations around the growing momentum to decarbonise energy systems and adopt cleaner alternatives to fuels such as coal.
The second edition of the SIEW Energy Insights Webinar series put the spotlight on the role of LNG and hydrogen in energy transition, co-hosted by SIEW and S&P Global Platts, organiser of SIEW partner event, LNG and Hydrogen Gas Markets Asia.
The webinar featured presentation by Mr Jean-Baptiste Dubreuil, Senior Gas Analyst from the
International Energy Agency on global gas & LNG market developments and outlook. The second speaker, Kenneth Foo, Managing Editor, Asia LNG at
S&P Global Platts spoke on fundamental changes and pricing shifts in the LNG market. Dr Fiona Simon, Chief Executive Officer of the
Australian Hydrogen Council then shared her perspectives on the game-changing potential of hydrogen. The speakers were later joined by Mr Randolph Bell, Director of Global Energy Center at
Atlantic Council, for an engaging panel discussion moderated by Mr Sandeep Mahawar, Senior Vice President, Commercial & Business Development at the
Singapore LNG Corporation.
Key Highlights from the webinar include:
- Gas outlook: Cloudy with a chance of recovery in 2021: In sharing IEA’s annual gas market outlook, Mr Dubreuil said “we expect to see a 4% drop in global gas consumption in 2020, which is an unprecedented contraction.” He added that the Covid-19 disruption is likely to have a long-lasting impact even with most of the 2020 losses expected to be recovered by 2021.
- Mr Foo further highlighted that spot LNG prices are at record lows due to weakened demand and increased pressure from oversupply—with the US, Qatar and Australian volumes adding to the supply glut.
- Realising the promise of hydrogen: In a poll conducted during the webinar, half of the respondents (49%) believed hydrogen will become an abundant and economic fuel of choice in 10-20 years. Dr Simon also shared that “We are seeing a global shift towards a low carbon future, with some countries setting ambitious green targets.”
- Cause for cautious optimism: Mr Bell shared “Blue hydrogen provides an opportunity to scale hydrogen much faster and you can take better advantage of the existing infrastructure that can be used in production." Mr Dubreuil also emphasised the need for energy stakeholders to recognise the importance of building a more resilient and sustainable energy system alongside economic recovery.